S&P Dow Jones Indices published its Mid-Year 2024 SPIVA Mexico focus report

 Today, on Tuesday, December 10, S&P Dow Jones Indices (S&P DJI) published its Mid-Year 2024 SPIVA Mexico focus report (Spanish translation hyperlinked here), which compliments the SPIVA® Global Scorecard Mid-Year 2024 published earlier this month. As you know, the Scorecard measures the performance of U.S. actively managed funds against their respective benchmarks over various time horizons.

 

Mexico’s equity market offered ample opportunities for outperformance, and fewer than one-half of local equity funds failed to surpass the benchmark in the first half of 2024.

 

S&P DJI’s Head of Specialists of Index Investment Strategy, Joe Nelesen, says: “While S&P DJI’s SPIVA Global Scorecard illustrated the challenging market conditions for active managers around the world in the first half of 2024, Mexico was an exception over the short term. Funds in the Mexico Equity category underperformed at a rate of 41.9% over the first six months of 2024.”

 

 

Below are some additional highlights from the report:

• In the first six months of 2024, 50.0% of MXN-denominated U.S. equity funds underperformed the S&P 500®, with the underperformance rate rising to 85.0% and 86.7%, respectively, over the 5- and 10- year periods.
• Global Equity (MXN) funds had a more difficult first half of 2024, with 77.8% underperforming and a full 100% falling behind the benchmark over the 5- and 10-year periods.
• Looking beyond H1, Mexico equities continued on a negative trajectory through the first four months of H2, ending down 10.2% YTD through Nov. 20, 2024. And the proportion of stocks outperforming the S&P/BMV IRT slightly declined, to 47.4%.

 

The full data set and analysis for each fund category can be found here. As always, if you would like to speak to Joe, please let me know.

 

For more SPIVA Scorecard results such as the effect of taxes on indices and active funds, please visit our website here.